The Bureau of Labor Statistics (BLS) released employment figures for Nevada which show a steady improvement in the labor market.
Employment in Nevada increased by 2,800 jobs over the month and is up 49,600 over the year, according to the state Department of Employment, Training and Rehabilitation’s April 2019 economic report.
The state’s unemployment rate in April declined over the month by 0.2 percentage point to 4.0 percent and is down half a percentage point when compared to last April.
“I am pleased to see the positive numbers from April’s labor market report. Nevada’s has experienced year-over-year job gains for more than eight consecutive years and the unemployment rate, at four percent, is the lowest it’s been since April of 2006,” Gov. Steve Sisolak said. “The number of employers in the State also marked a new record high in the first quarter of 2019 at 73,300. Although these number are encouraging, we need to continue to do more to make sure that the benefits of this economy extend to all Nevadans.”
The U.S. unemployment rate was the lowest it had been in nearly in nearly 50 years at 3.6% in April, while the economy added 190,000 jobs.
Highlights from the Nevada Department of Employment, Training and Rehabilitation (DETR) show:
• Total employment rose by 3.6 percent over the year, double the current U.S. growth rate (1.8 percent).
• The unemployment rate in Nevada dropped to 4%. This was the lowest rate in 13 years.
• Nevada has had the fastest over the year growth rate in jobs in the nation since October of 2018.
The industry that was the largest contributor to gross domestic product growth in Nevada in the third quarter of 2018 was manufacturing, totaling 15.2% or $7.6 million (adjusted for inflation, measured in 2012 chained dollars).
Locally, Humboldt County’s unemployment rate for April was 2.6%, unchanged from February.
“Overall, the State’s labor market continues to fare well and should continue to produce improved opportunities for those people who have been slower to benefit from the recovery.” said David Schmidt, Chief Economist for DETR.